InteliCare is offering shareholders an opportunity to participate in the smart care technology company’s next phase of growth.

InteliCare Holdings (ASX:ICR) has launched a fully underwritten entitlement offer of $2.21 million as the company looks to ramp up its  strategic expansion plan.

Opening on December 1, the eight for 11 offer is fully underwritten by Perth-based advisory firm Westar Capital. The issue price of $0.025 is a 16 per cent discount to the last closing price.

InteliCare’s hardware and software as a service (SaaS) product is a leading solution for the aged care and disability sectors aimed at promoting independent living.

Chief executive Daniel Pilbrow said the funds raised will provide the runway needed for the company’s next phase of rapid growth.

“We want to raise funds to invest in sales and marketing, research and development, general working capital and to cover the costs of the offer,” he said.

“We are proud to be continuously expanding and improving our offerings. A fresh injection of capital has the potential to assist us in the pursuit of our goal of quality care for all.”

Growth plan on track

InteliCare’s overall revenue rose 34 per cent in the 21/22 financial year with sales revenue increasing 18 per cent, predominantly from B2B partnerships.

The company announced partnerships with Optus and leading WA aged care provider Bethanie, a leading Canadian digital health company Persona Informatics and the launch of a pilot project with Western Australian Country Health Services during the period.

InteliCare also recently announced the expansion of its duress and emergency services via a partnership with leading security and alert response company, Allcare.

This article was developed in collaboration with InteliCare, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.